Overview
- Pinewood shares slumped to roughly 303–308p in Monday trading after Apax said it would not make an offer.
- Talks had focused on a possible 500p-per-share cash deal valuing Pinewood at about £575 million.
- Apax kept a six‑month right to revisit a bid if a third party emerges, the board reopens talks, or circumstances materially change.
- Pinewood’s board reaffirmed FY28 underlying EBITDA guidance of £58–62 million and underscored high recurring revenue and OEM partnerships.
- The company highlighted recent AI-focused moves, including the Seez acquisition and full control of its US operations, as coverage pointed to an AI-fueled sell-off weighing on software valuations.